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Israel, Romania sign agreement to promote trade, investment

Staff writer ▼ | June 30, 2015
The Israeli and Romanian chambers of commerce signed an agreement on Monday aimed at the promotion and enhancement of business ties between the two countries.
Klaus Iohannis
Trade   The volume of trade between Israel and Romania reached $400 million
The agreement also encourages increased investment by both countries, as well as a network to organize different projects and joint-business ventures.

The volume of trade between Israel and the Central European country reached $400 million in 2014, and Israeli investments in Romania are up to 150 million euros ($167 million), according to the Israeli Foreign Trade Administration’s trade representative, Matan Safran.

The closeness of Israeli-Romanian relations was highlighted in 2010 when an Israeli CH-53 Sikorsky helicopter crashed in the Carpathian mountains — a region some analysts say bears a resemblance to parts of Iran — killing six IAF servicemen.

According to the Jerusalem Post, Romania became a training ground for Israeli pilots following the crisis in Turkish-Israeli relations surrounding the 2010 Israeli naval interception of the Turkish Mavi Marmara, which was attempting to break the Gaza blockade.

Defense trade between Israel and Romania was about 11 million euros ($12 million) in 2012.